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Westpac Term Deposit Rates

One of the big four banks, with standard and online-bonus term deposit rates. Rates last checked 2026-08-10.

Rates shown may include promotional offers and can change without notice — confirm the current rate on the provider's site before acting. How we source rates

Term Interest Rate (p.a.) Min. Deposit
3 months 3.25% $5,000
6 months 3.40% $5,000
12 months 5.15% $5,000
24 months 4.50% $5,000
36 months 4.00% $5,000
60 months 4.00% $5,000

Source: Westpac term deposit interest rates

Notes on Westpac's rates

Deposit range $5,000-$2,000,000. Separate 8-month and 12-month "Special Offer" terms may pay more than the standard rate shown, and an extra 0.10% p.a. online bonus can apply for existing customers who open or renew online.

Interest Payment Options

Westpac's interest payment options: Monthly or at maturity. Interest paid at maturity typically offers the headline rate; opting for monthly or quarterly payments can reduce the effective rate slightly, since you're accessing your returns sooner.

How Westpac Compares

Term deposit rates move independently between banks, so it's worth checking a few options before committing. See how Westpac stacks up against other providers:

Or use our full comparison table to see every bank side by side, or the term deposit calculator to estimate your returns.